Private Wealth Partners LLC Buys Additional Alphabet Inc. Shares

Published January 31, 2024

Investment management firm Private Wealth Partners LLC has recently increased its stake in Alphabet Inc., the parent company of Google, by 4.7%. This was revealed in the latest filing with the Securities and Exchange Commission (SEC) for the 3rd quarter. As a result of the purchase, the firm now holds a total of 224,812 shares in Alphabet after acquiring an extra 10,155 shares during the quarter.

Investment Portfolio Growth

With this latest investment, Alphabet Inc. now represents 2.8% of Private Wealth Partners LLC's portfolio, and it stands as the 12th largest holding within the firm's investments. The value of these shares was reported to be approximately $29.6 million at the end of the last quarter.

Changes in Hedge Fund Holdings

Other hedge funds have also been adjusting their holdings in Alphabet Inc. Bank Julius Baer & Co. Ltd Zurich massively increased its stake by about 94,153.5% in the 2nd quarter. Meanwhile, Moneta Group Investment Advisors LLC showed a substantial increase of 61,587.1% in their stake during the 4th quarter. Other notable adjustments include Bank of New York Mellon Corp raising its stakes by 1,807.4% in the 3rd quarter, and Norges Bank acquiring a new position in Alphabet in the 4th quarter, valued at about $3.06 billion.

Alphabet's Market Performance

GOOG shares have witnessed fluctuation in their market performance, with the stock price opening at $153.05 on the reference Wednesday. Alphabet's financial health appears strong, flaunting a market capitalization of $1.92 trillion, a PE ratio of 29.38, and stable liquidity ratios. With a beta of 1.06, the company has maintained a fairly stable pace aligned with market movements.

Analyst Ratings and Forecasts

Equity research analysts have shown optimism for Alphabet's prospects, with several issuing favorable reports and price targets for the tech giant's stock. Oppenheimer and Raymond James are among the firms that have given Alphabet an “outperform” rating, setting price targets indicative of potential growth.

Insider Trading Insights

There has been some insider trading activity at Alphabet, with directors and the CEO making some recent stock sales. However, insiders still maintain a significant portion of the company's stock, indicating continued faith in the company's future.

About Alphabet Inc.

Alphabet Inc. operates a wide range of services and products across the globe. Its business activities are majorly conducted through Google Services, Google Cloud, and Other Bets segments, with offerings including ads, Android, Chrome, Gmail, Google Maps, YouTube, and more.

Alphabet, investment, shares